Productivity Losses Called Biggest Ransomware Fallout: GetApp
The full damage of the average ransomware attack can extend well beyond the cost of the ransom payment itself, a GetApp survey found. The software recommendation platform canvassed 300 ransomware victims in May, finding only 11% who said the ransomware…
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
payment “was the most consequential impact of the ransomware attack,” it said. Six in 10 survey respondents reported suffering a “multifaceted extortion attack” in which the victim’s files are encrypted and a separate attack is launched to pressure victims to pay the ransom, it said. The survey found 58% of multifaceted extortion victims reported they paid the ransom, compared with only 31% of standard ransomware attack victims, it said. “The complex nature of multifaceted attacks can bring normal business functions to a standstill,” said GetApp. Among companies that paid the ransom, 70% said the attack made a major impact on productivity, it said. More than a third of victims cited productivity losses “as the single most consequential impact of a ransomware attack, more than any other effect surveyed,” it said.